Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company has experienced a significant decline in profits in the first three quarters of 2024, with a revenue of 183.94 million yuan, down 10.50% year-on-year, and a net profit attributable to shareholders of -4.68 million yuan, down 128.01% year-on-year [7] - In Q3 2024, the company reported a revenue of 83.05 million yuan, an increase of 13.25% year-on-year, and a net profit attributable to shareholders of 9.34 million yuan, up 75.66% year-on-year [7] - The company's gross margin for the first three quarters of 2024 was 63.39%, a decrease of 4.75 percentage points year-on-year, while the net profit margin was -6.37%, down 11.90 percentage points year-on-year [9] Financial Performance Summary - Revenue (in million yuan) from 2020 to 2023: - 2020: 210.06 - 2021: 247.01 - 2022: 287.37 - 2023: 341.16 - Year-on-year growth rates for revenue: - 2020: 6.39% - 2021: 17.59% - 2022: 16.34% - 2023: 18.72% [4] - Net profit (in million yuan) from 2020 to 2023: - 2020: 31.76 - 2021: 53.38 - 2022: 44.43 - 2023: 45.06 - Year-on-year growth rates for net profit: - 2020: 14.48% - 2021: 68.06% - 2022: -16.76% - 2023: 1.40% [4] - The company has a market capitalization of 941 million yuan as of December 17, 2024, with a PE ratio of 39.71 [9]
海能技术：前三季度利润大幅下滑，业绩短期承压